Under the direction of the Closer Supervisor, this position is responsible for coordinating all applicable residential loan documentation to complete a residential loan transaction pursuant to guidelines as set forth by Bank of Hawaii and secondary marketing investor requirements, from application to closing. Ensures timely processing and closing of loans within specified timeframes.
- Analyzes all income, asset, credit, title and property information in a residential loan for all loans as per Level I Point Of Sale Guidelines. Validates the findings of the respective automated underwriting engine pursuant to bank and secondary marketing requirements, committing Bank of Hawaii to a loan decision. The analysis includes the review of all loan information, including, but not limited to, credit reports, appraisal reports, tax returns, financial statements, income and asset documentation.
- Prepares all closing documents accurately and without error pursuant to investor, bank and regulatory guidelines. Also ensures the integrity and consistency of data in the loan file and on the loan origination/processing system.
- Maintains productivity and quality of service standards, as established by Management, with respect to the approval and closing of loans. Including but not limited to: Making decisions on loans within specified timeframes from the receipt of the file in Operations, pursuant to standards set forth by Management. Validates Point of Sale files within 7 days. Ensures the underwriting validation performed meets with Bank of Hawaii or secondary marketing investor guidelines, as applicable. Maintains an exception rate on Credit Assessment Audits, Pre-Funding Validation Correction Reports, Quality Control Reports and Investor Repurchase Reports, as set forth by Management. Focuses on error ratio of 3% or less. Funds a minimum of 40 files per month. Approves and closes purchase transactions within specified deadlines as set forth on the Deposit Receipt Offer and Acceptance (DROA). Closes refinance transactions within specified lock expiration dates.
- Communicates effectively, courteously and proactively with internal customers, which includes, but is not limited to, other Processors, Support Processors, Loan Officers, Underwriters and other division employees, including Management, and external customers, while maintaining quality of service standards as determined by Management. This includes maintaining a positive attitude.
- Obtains thorough product knowledge with respect to Bank and secondary marketing guidelines and compliance regulations. This includes but is not limited to Fair Lending, Reg B (ECOA), Reg C (HMDA), Reg Z (TIL), Reg X and RESPA, Fair Credit Reporting Act.
- Performs all other miscellaneous responsibilities and duties as assigned.
